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Many guitar players are accustomed to listening to a real close-by amp. If so, they have been listening to the tone coming directly from the speaker, at some distance, which is often referred to as "in the room" tone. Natural room abience will be part of this tone and the sound at some distance differs from the sound you hear when putting your ears close to the speaker.
The Axe-Fx II does not have this physical speaker limitation when using cab sims. Also, most cab IRs are recorded using close-micing, where the recording microphone was placed close to the speaker. The resulting tone is not the "amp-in-the-room" tone, but the guitar tone as you hear it at concerts through FOH or on recorded tracks. A close-mic'd speaker often has a lot of treble and bass and is EQ'd at the mixing table. Also, a close-mic'd tone doesn't have room ambience. More on close micing in Wikipedia
Of course, when using the Axe-Fx II with a power amp and a real speaker cabinet (no cab sim), you will have an amp-in-the-room tone with room ambience. Often a player wants to accomplish the same using cabinet sims with fullrange amplifcation. This is how you can approach this:
Select a "farfield" cab type, such as 2×12 Gold 30 Far-Field or 2×12 G12-65 Far-Field.
Set Mic Type to none to keep the tone neutral.
Use the room ambience controls in the Cab block.

I haven't given it a shot yet, but all the posts I've read say that it's pretty awesome. There's talk on the FAS forums about it here.

Just wanted to give everyone a sneak preview of the upcoming Room and Far Field IR's I'll be adding to the WAV and NEB libraries for free throughout the course of my updates. In the same fashion as the rest of the mics, there will be (generally) 5 positions each. The Far Fields will see two different versions of each position, 'C' and 'D'. This stands for Clean and Distorted respectfully, and is an indication of what type of guitar tone would be best suited for that version of the IR. The Clean version is a natural capture with a completely open top end, where the Distorted version has the fizz frequencies acutely dialed out. All of this will be put in the ReadMe as well. The below quick and dirty demo tracks are all done using the 412-GTR Bogner V31 cab/speaker combo, and done with the wave audio (WAV) version as that is the quickest for me during the testing process.

In the following example, I'm using the "Clean" website demo track with the MA200-3, Room-2, and FarField-2C IR's. As indicated in the comments, the order of the audio tracks are:

MA200 only | Room only | Far Field only | MA200 + Room | MA200 + Far Field | All 3 together

Nice! FWIW the God's Cabs impulse pack can do something quite similar with the near and far mic positions that are provided. A whole lot of positions and mics are provided so it's tricky to sort through them all though.

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"The most important thing I look for in a musician is whether he knows how to listen." -Duke Ellington